|About Debt Consolidation
Title: How Do You Evaluate Debt Consolidation Companies?
When you go around shopping for a debt consolidation company,
the chances are that you will be thoroughly confused. The
various advertisements probably give you the impression that all
your financial woes are going to be over, in a jiffy. That is
not so. There are many debt consolidation companies that operate
scams on unsuspecting people like you.
You need to be savvy enough to be able to evaluate these
companies. Begin with the reputation the debt consolidation
company you are considering has. Start by checking with the
Better Business Bureau (BBB). You can find out if they have any
complaints registered against them. You need to be able to ask
them a few correct questions, and listen to their answers.
Ask them the kind of services and solutions they provide. Debt
consolidation companies come out with various solutions, such as
negotiating with your creditors to re-schedule your monthly
payments, debt consolidation loans, home equity loans or lines
of credit, among a plethora of other solutions. Every solution
may have its own advantages and disadvantages and you need to
learn about them in detail. The debt consolidation expert should
be able to provide you with a solution most beneficial to you,
Ask what kind of fees they charge. They may charge a monthly
fee equal to 10 percent of your monthly installment they
negotiate with your creditors, in addition to a one time set-up
fee. Check to see if there are any hidden charges involved. Have
them put in writing your request for a free quote listing all
the charges involved.
Ask them whether they receive any kind of consideration from
the creditors. Especially take care when dealing with
Check for their legitimacy. There are many companies involved
in debt consolidation scams and frauds. They never disclose
their physical addresses, and have only voice-mail services.
Evaluate the above and select the debt consolidation company
that meets with your approval.
The articles on this Web site are provided for information purposes only.
Contact USA, Inc. does not accept any responsibility or liability for the use or misuse of the article content on this site or reliance by any person on the site's contents.